Analysis date: July 16, 2026. Prices and metrics are as of the market close on July 15, 2026, unless otherwise stated. BuyWendys.com is an independent investor-research publication and is not affiliated with The Wendy’s Company. This article is analysis, not investment advice.

The 30-Second Answer

WEN closed near $7.44 on July 15, 2026. A double is ~$14.90 — a level the stock last touched on March 28, 2025. Getting back there realistically takes both modest EBITDA growth and a re-rating toward its quick-service peers, because at roughly 10–11x EV/EBITDA Wendy’s already trades below its own ~15x four-year average and far below McDonald’s (~17x), Restaurant Brands (~16x), and Yum! Brands (~19–20x). The gating variable is singular: U.S. traffic turning positive.

Key Takeaways

The target. Wendy’s (Nasdaq: WEN) closed around $7.44 on July 15, 2026. A double is therefore roughly $14.90, implying a market capitalization near $2.85B versus about $1.42B today.
When it was last there. WEN last closed at or above $15 on March 27, 2025 ($15.01) and last touched $15 intraday the next day, March 28, 2025 (high of $15.07). The 52-week range is now $6.07–$12.00, so a double sits above anything the stock has touched since. Its post-pandemic peak was roughly $22–$23 in June 2021.
Three scenarios, modeled in parallel. We run two “pure” roads to 2x side by side — Scenario A: Grow Into It (better fundamentals at a flat multiple) and Scenario B: Get Re-Rated (a higher multiple on flat fundamentals) — then Scenario C: The Blend, the realistic base case, because the current multiple already sits below both Wendy’s own history and its peers, so neither pure path is likely to carry the full distance alone.
The fundamentals hurdle. Because Wendy’s carries roughly $2.46B of net debt, equity is a levered claim. Holding the enterprise multiple constant, adjusted EBITDA would need to rise from the guided ~$470M toward roughly $700M+ to double the equity — a ~50% increase. That is a multi-year turnaround, not a one-year event.
The re-rating hurdle. At a flat ~$470M EBITDA, doubling the equity requires the EV/EBITDA multiple to expand from roughly 10x toward ~13–14x — still below where healthy QSR franchisors trade, but plausible only if traffic inflects and the market re-underwrites Wendy’s as a grower.
The catalyst stack. Positive U.S. traffic, U.S. company margin back toward the 16.0% it posted in FY2024, credible unit growth, deleveraging below 4.5x, and resolution of the Trian take-private overhang are the levers most likely to move the multiple.

Why This Question Matters Now

Wendy’s has become one of the more contested names in the restaurant sector. The stock has compressed to a ~9.6x P/E and a dividend yield above 7% — levels that signal the market is pricing either a value trap or a deeply out-of-favor turnaround. The backdrop is unusually eventful: a full leadership overhaul (Bob Wright became CEO effective May 21, 2026; Steve Cirulis became CFO and Chief Strategy Officer effective June 23, 2026), an activist take-private overhang from Nelson Peltz’s Trian, and a June 24, 2026 meme-stock squeeze that briefly sent shares up more than 40% intraday and triggered a volatility halt — all of which have decoupled the price from fundamentals for stretches of 2026.

Against that backdrop, “what would it take to double from here” is the right analytical frame. It forces a concrete question — how much operating improvement, or how much multiple expansion, is actually required — rather than a vague bull or bear narrative. This article answers it with explicit math and clearly labeled assumptions.

The Starting Line: Where WEN Trades Today

Metric	Value (as of July 15, 2026)	Source basis
Share price	~$7.44	Market data, July 15, 2026
Implied 2x target	~$14.90	BuyWendys.com calculation
Market capitalization	~$1.42B	Market data
Shares outstanding (diluted)	~190.9M	Q1 2026 10-Q
52-week range	$6.07 – $12.00	Market data
Trailing P/E	~9.6x	Market data
Trailing EV/EBITDA	~10–11x	stockanalysis.com / Finbox, mid-2026
Dividend / yield	$0.14 quarterly / ~7.5%	Q1 2026 release; market data
Net debt (approx.)	~$2.46B	Q1 2026 10-Q (≈$2.76B debt − ~$0.30B cash)
Net leverage	~4.9x	Q1 2026 earnings call
FY2026 adjusted EBITDA guidance	$460–$480M	Q1 2026 release, May 8, 2026
FY2026 adjusted EPS guidance	$0.56–$0.60	Q1 2026 release, May 8, 2026
FY2026 free cash flow guidance	$190–$205M	Q1 2026 release, May 8, 2026
Analyst mean 12-month target	~$7.78 (range $5–$13)	Aggregated sell-side, mid-2026

Two facts from this table frame everything that follows. First, the multiple is already below Wendy’s own historical average, so a re-rating is not starting from a stretched base. Second, the balance sheet is heavily levered, which magnifies how equity responds to changes in enterprise value — the key mechanic running through all three scenarios below.

When Was Wendy’s Last at ~$15?

The double-target level of ~$14.90 sits right at the $15 threshold Wendy’s last visited in the first quarter of 2025:

Last close at or above $15: March 27, 2025, at $15.01.
Last intraday touch of $15: March 28, 2025, which opened and peaked at $15.07 before closing at $14.63.

March 28, 2025 was therefore the last day WEN shares touched $15. The stock has stair-stepped lower since, and its 52-week high is now only $12.00 — confirming that a double from today’s price sits above everything the stock has traded in more than a year.

For longer context, Wendy’s reached a post-pandemic peak of roughly $22–$23 in June 2021 (split-adjusted; some data providers show higher unadjusted figures). The distance from that peak illustrates the scale of the de-rating: a company in the low-$20s in 2021, near $15 as recently as March 2025, now trades near $7.44 — reflecting both a compressed multiple and a weaker earnings trajectory.

Line chart of Wendy's (WEN) stock price from 2021 to 2026, showing the decline from a $22.78 post-pandemic peak to $7.44, the last $15 touch on March 28, 2025, and the $14.90 doubling target. — Wendy’s has not traded at the ~$14.90 doubling level since March 28, 2025. Split-adjusted closing prices; interim points approximate. Source: BuyWendys.com.

The Core Mechanic: Equity Is a Levered Claim

Before modeling the scenarios, one point governs the math across all three. Wendy’s equity value is enterprise value minus net debt:

Equity value = Enterprise value − Net debt

With roughly $2.46B of net debt, a given percentage change in enterprise value produces a larger percentage change in equity. That cuts both ways. It means a relatively modest improvement in EBITDA or multiple can move the stock a lot — but it also means the downside is amplified if fundamentals keep sliding. Any credible “path to 2x” has to respect this leverage rather than assume the stock doubles simply because EBITDA rises 20%.

Approximate current enterprise value

Using today’s figures:

Equity (market cap): ~$1.42B
Plus net debt: ~$2.46B
Enterprise value: ~$3.88B

Against the midpoint of FY2026 adjusted EBITDA guidance (~$470M), that is an EV/EBITDA of roughly 8.3x on guided EBITDA, and ~10–11x on a trailing basis (stockanalysis.com shows ~11.25x; Finbox shows ~10.4x LTM). We use ~10x as the reference enterprise multiple across the three scenarios below — a deliberately conservative anchor, as the next section explains.

Why ~10x Is the Right Reference Multiple

The whole scenario set pivots on the multiple we hold as “normal,” so it is worth grounding rather than asserting. Two independent benchmarks point to ~10x being conservative — near the low end of what Wendy’s has commanded, not a stretch.

Against its own history. Wendy’s fiscal-year-end EV/EBITDA averaged roughly 15x across FY2022–FY2025 (median ~14.8x), peaking near 18x in early 2023 and bottoming near 10.5x in December 2025, per Finbox. At ~10–11x today, WEN trades below its own four-year average and at the trough of its historical range. Anchoring the scenarios at ~10x therefore assumes essentially no help from mean reversion.

Against its peers. Healthy QSR franchisors with positive comps and unit growth trade in the mid-teens and higher:

Company	EV/EBITDA (mid-2026)	Note
Wendy’s (WEN)	~10–11x	Below its own ~15x four-year average
McDonald’s (MCD)	~17x	Scaled, defensive franchisor
Restaurant Brands (QSR)	~16x	Multi-brand franchisor
Yum! Brands (YUM)	~19–20x	Asset-light, high-growth
Jack in the Box (JACK)	~12x	Distressed/restructuring — weak comp

Bar chart of EV/EBITDA multiples in mid-2026: Wendy's at ~10x versus Restaurant Brands ~16x, McDonald's ~17x, and Yum! Brands ~19-20x, with Jack in the Box ~12x flagged as a distressed non-comp, and Wendy's own ~15x four-year average marked. — At ~10–11x EV/EBITDA, Wendy’s trades below its own ~15x four-year average and well beneath healthy franchisor peers. Jack in the Box (*) is a distressed situation, not a clean comp. Source: BuyWendys.com from stockanalysis.com, GuruFocus, valueinvesting.io (mid-2026).

The three clean franchisor comps (MCD, QSR, YUM) sit at ~16–20x; only distressed Jack in the Box is close to Wendy’s, and it is a restructuring situation rather than a “healthy franchisor” benchmark. The implication is direct: Wendy’s does not need to reach peer multiples to double — it only needs to close part of the gap toward the low-to-mid teens while EBITDA holds or grows. Multiples vary by data provider and as-of date depending on EBITDA definition and lease treatment; figures above are mid-2026 readings from stockanalysis.com, GuruFocus, and valueinvesting.io, and should be refreshed at publication.

The Three Scenarios at a Glance

The table below sets the two pure paths beside the blend so the trade-offs are visible before the detailed math. All three target the same ~$14.90 share price (~$2.85B equity); they differ only in which lever does the work.

Attribute	Scenario A — Grow Into It	Scenario B — Get Re-Rated	Scenario C — The Blend (base case)
Primary lever	Adjusted EBITDA growth	EV/EBITDA multiple expansion	Both, plus modest deleveraging
EBITDA required	~$531M (held 10x) → ~$700M+ (7x trough)	Flat at ~$470M	~$550M (+~17%)
Multiple required	Flat at ~10x	~13–14x (from ~10x)	~12x (~2-turn re-rating)
Net debt assumption	Flat ~$2.46B	Flat ~$2.46B	~$2.25B (FCF paydown)
Magnitude of change	+13% to +50% EBITDA	+3–4 turns of multiple	+low-double-digit EBITDA, +1.5–2 turns
Timeframe	Multi-year	Event-driven, can be faster	1–3 years
Likelihood (BuyWendys.com view)	Low-to-moderate alone	Low alone	Most plausible
Key dependency	Sustained margin + unit recovery	Market believing the story has turned	U.S. traffic inflecting positive

The scenarios are not mutually exclusive forecasts — they are boundary cases that isolate each lever. Scenario C is flagged as the base case because A and B each depend on the other lever behaving in a way the evidence does not currently support: the market rarely pays a mid-teens multiple for declining traffic (undercutting pure B), and a low-growth Wendy’s is unlikely to hold a 10x multiple while EBITDA climbs 50% (undercutting pure A). The two reinforce each other, which is the substance of C.

Scenario A — Grow Into It (The Fundamentals Path)

The question. Holding the EV/EBITDA multiple constant, how much would adjusted EBITDA need to grow to double the equity?

The setup math. To double equity from ~$1.42B to ~$2.85B at a constant ~10x enterprise multiple and constant net debt of ~$2.46B:

Target enterprise value = Target equity + Net debt = $2.85B + $2.46B = ~$5.31B
Required EBITDA at 10x = $5.31B ÷ 10 = ~$531M

A more conservative version stress-tests the multiple. If it compresses toward ~8.3x (the guided-EBITDA multiple) because growth stays absent, required EBITDA rises to ~$640M; at a ~7x trough multiple, it climbs toward ~$700M+.

The required magnitude. From the guided ~$470M base, EBITDA must rise to somewhere between ~$531M (+13%) and ~$700M+ (+50%), depending on whether the multiple holds at 10x or compresses toward trough levels. We headline the wider range because it reflects the realistic risk that a low-growth Wendy’s does not command a premium multiple. One offset works in the bull’s favor: Wendy’s free cash flow (guided $190–$205M for 2026) can pay down debt, and every ~$1 of net-debt reduction is ~$1 of equity value at constant EV — lowering the EBITDA bar.

What has to be true. Wendy’s does not add ~$60M–$230M of EBITDA by accident. The operating levers, in rough order of impact:

U.S. traffic inflects positive. Q1 2026 U.S. same-restaurant sales were −7.8%, driven by lower traffic partly offset by a higher average check. Turning transactions positive — value-menu incrementality (Biggie Deals) that adds visits rather than discounting existing ones — is the single most important variable.
U.S. company-operated margin recovers. Q1 2026 U.S. company margin fell to 11.4%, pressured by ~8% commodity inflation and ~4% labor inflation. Full-year guidance is ~13%; getting back toward the 16.0% posted in FY2024 (and 15.3% in FY2023) is a major EBITDA lever.
Unit growth resumes. Net units fell in Q1 2026 as the U.S. footprint was optimized. Sustainable EBITDA growth needs the global system (~7,250 restaurants) growing again — the framework to build up to 1,000 restaurants in China over ten years is the kind of pipeline that supports this, though international units carry different economics.
Commodity relief. Beef is the pressure point (record retail prices in 2026 amid the smallest U.S. cattle herd in about 75 years). Chicken has been a deflationary tailwind. Beef normalization — not expected before 2027–2028 — would flow substantially to margin.
Digital mix. U.S. digital sales rose to ~22.7% of sales, supporting average check, personalization, and attachment (for example, Frosty and premium add-ons).

The key risk. The market may not re-rate alongside the operating recovery, forcing EBITDA to do all the work — the exact scenario the ~$700M+ trough case captures. That makes a fundamentals-only double a multi-year proposition with a demanding EBITDA hurdle. Whether the multiple cooperates is the subject of Scenario B.

Scenario B — Get Re-Rated (The Multiple Path)

The question. Holding adjusted EBITDA roughly flat at ~$470M, how much multiple expansion doubles the equity?

The setup math. Target EV of ~$5.31B on ~$470M EBITDA implies:

Required EV/EBITDA = $5.31B ÷ $470M = ~11.3x

On guided EBITDA, the multiple moves from ~8.3x to ~11.3x. On our normalized ~10x reference, doubling the equity at flat EBITDA requires expansion to ~13–14x.

The required magnitude. A re-rating of roughly 3–4 turns of EV/EBITDA, taking Wendy’s from a below-average ~10x toward the low-to-mid teens. That is not exotic — it would still leave WEN below McDonald’s (~17x), Restaurant Brands (~16x), and Yum! (~19–20x), and roughly in line with its own FY2022–FY2025 average of ~15x. But it is a large move for a stock the market currently discounts as a value trap.

What has to be true. The multiple expands only if the market re-underwrites the equity. The drivers, in rough order of impact:

A positive traffic print. The clearest single catalyst. One or two quarters of positive U.S. transactions would challenge the “value trap” thesis directly.
Deleveraging below ~4.5x. At ~4.9x net leverage, balance-sheet risk caps the multiple; visible deleveraging reduces the equity risk premium.
Capital-allocation clarity. The ~7.5% dividend yield signals skepticism about the payout’s durability — the $0.56 annualized dividend is roughly 97% of the ~$0.58 midpoint of FY2026 adjusted EPS guidance. A credible framework — maintaining, resetting, or redirecting the dividend toward debt paydown and unit growth — could remove an overhang.
Resolution of the strategic/activist situation. The new leadership team (CEO Bob Wright, CFO Steve Cirulis) and Nelson Peltz’s Trian — which owns ~16% and has disclosed exploring a take-private — create both risk and optionality. A clear outcome (a sharpened turnaround plan, refranchising, or a transaction) could re-rate the equity independent of near-term EBITDA.

The key risk. Multiples of 13–14x are paid for growth, not for declining traffic. A re-rating on genuinely flat, still-negative fundamentals tends to be a trading rally rather than a durable move — exactly the pattern of the June 24, 2026 meme squeeze, which spiked shares more than 40% intraday without underlying traffic support and faded. This is the fastest theoretical route to 2x but the least self-sustaining, which is why it rarely stands alone.

Scenario C — The Blend (Base Case)

MOST PLAUSIBLE

This is the scenario we consider most plausible, and it follows the same five-part structure as A and B.

The question. If neither lever has to carry the full distance alone, what combination of EBITDA growth, re-rating, and deleveraging doubles the equity — and is each piece individually realistic?

The setup math. A representative base-case combination, with each lever moving only modestly:

Lever	From	To	Contribution
Adjusted EBITDA	~$470M	~$550M (+17%)	Traffic inflects, margin toward 14–15%
EV/EBITDA multiple	~10x	~12x	Re-rating on demonstrated stabilization
Net debt	~$2.46B	~$2.25B	~$200M FCF-funded paydown

Running that combination:

Target EV = $550M × 12 = $6.6B
Equity = $6.6B − $2.25B = ~$4.35B

The required magnitude. That combination overshoots a double (~$4.35B vs. the ~$2.85B target), which is the point: because equity is a thin slice of enterprise value, a ~17% EBITDA gain plus a 2-turn re-rating plus modest deleveraging more than doubles the stock. Dialed back to exactly 2x, the requirement is milder still — roughly EBITDA up low-double-digits, the multiple up ~1.5–2 turns, and net debt modestly lower. No single lever is heroic; that is what separates C from the demanding pure cases. Notably, the ~12x target multiple still sits below Wendy’s own ~15x four-year average and well below its healthy peers.

What has to be true. The same operating recovery described in Scenario A (positive U.S. traffic, margin toward the mid-teens, resumed unit growth) must materialize — but only partially, because the re-rating and deleveraging share the load. Critically, the levers are self-reinforcing: early operating traction earns the multiple, the higher multiple compounds the EBITDA gain, and free-cash-flow-funded paydown lowers the bar for both. All three, however, trace back to one root cause: U.S. traffic turning positive and staying there.

The key risk. The reinforcement runs in reverse just as easily. If traffic keeps sliding, EBITDA and the multiple fall together while leverage rises mechanically — the blend’s virtuous circle becomes a vicious one. Scenario C is the most achievable path, not a guaranteed one; it still rests entirely on the traffic inflection that has not yet arrived.

The Bear Case: Why 2x Could Stay Out of Reach

Intellectual honesty requires weighting the downside, because the same leverage that powers the double works in reverse.

Traffic keeps sliding. If value promotions primarily cannibalize higher-margin combos rather than adding visits, comps stay negative and EBITDA erodes toward the low end of guidance or below.
Beef stays elevated. With the U.S. cattle herd at multi-decade lows and no herd recovery expected before 2027–2028, commodity pressure could persist longer than guidance assumes, capping margin recovery.
Franchisee stress. 2025 U.S. franchisee EBITDA margins fell ~270 bps to ~9.3%. If operator economics deteriorate further, unit growth and remodel investment stall — undermining the systemwide-sales engine that drives royalty revenue.
The dividend overhang. A ~7.5% yield with the payout near 97% of guided adjusted EPS raises the risk of a cut. A reset could be strategically correct (freeing cash for debt and growth) but might trigger a near-term de-rating even if it improves long-term value.
Leverage cuts both ways. At ~4.9x, a further EBITDA decline raises leverage mechanically, pressures the multiple, and can send the equity down faster than EBITDA falls — the mirror image of the bull math.
Rally without fundamentals. The June 2026 meme/short-squeeze episode showed the price can spike toward the double temporarily, but a move not underwritten by traffic and margin is unlikely to hold.

What Investors Should Monitor

The scorecard that tells you whether the path to 2x is opening or closing:

U.S. same-restaurant sales and, specifically, traffic — the gating variable. Watch the Q2 2026 print (due August 7, 2026) and the trajectory into the back half.
U.S. company-operated restaurant margin — progress toward and beyond the ~13% guide, then back toward the 16% of FY2024.
Adjusted EBITDA versus the $460–$480M guide — and any FY guidance revision.
Net leverage — movement below 4.5x signals balance-sheet de-risking.
Free cash flow deployment — debt paydown versus dividend versus buyback.
Commodity commentary — beef in particular; chicken as offset.
Franchisee profitability — the health of the unit-growth and royalty engine.
Strategic/activist resolution — any outcome from the Trian situation or new management that changes the capital structure or growth plan.

BuyWendys.com Conclusion

Doubling Wendy’s to roughly $14.90 — a level the stock last touched on March 28, 2025 — is achievable but not easy, and it is almost certainly a blended outcome rather than a single lever. The cleanest version requires U.S. traffic to inflect positive, company margins to climb back toward the mid-teens, EBITDA to grow low-double-digits toward ~$530M+, the multiple to expand roughly 1.5–2 turns toward ~12x (still below both its own history and its peers) as the market re-underwrites the story, and net debt to drift lower on free cash flow. Because equity is a levered claim on a heavily indebted enterprise, that combination does more than 2x the arithmetic implies — which is the bull case in a sentence.

The same leverage is the bear case. If traffic keeps falling and beef stays high, the multiple and EBITDA fall together and the equity can halve as easily as it can double. The decisive variable is singular and measurable: U.S. transactions. Everything else — margin, multiple, leverage, dividend — follows from whether Wendy’s can get people back through the door. The next definitive read is the Q2 2026 report on August 7.

Frequently Asked Questions

What price is double Wendy’s stock?

With WEN near $7.44 on July 15, 2026, a double is roughly $14.90, implying a market cap near $2.85B versus ~$1.42B today.

When was Wendy’s stock last at ~$15?

WEN last closed at or above $15 on March 27, 2025 ($15.01) and last touched $15 intraday on March 28, 2025 (high of $15.07). Its 52-week high is now only $12.00, so a double sits above the entire trailing-year range. The post-pandemic peak was roughly $22–$23 in June 2021.

Can Wendy’s double on fundamentals alone (Scenario A)?

Yes, but it is a multi-year effort. Holding the multiple flat and net debt constant, EBITDA would need to rise from ~$470M toward ~$531M (best case); if the multiple stays depressed, the requirement climbs toward ~$640M–$700M+, a 36–50% increase.

Can it double on a re-rating alone (Scenario B)?

In theory, expanding EV/EBITDA by ~3–4 turns (from ~10x toward ~13–14x) at flat EBITDA would do it — and 13–14x would still leave WEN below peers like McDonald’s (~17x) and Yum! (~19–20x). But the market pays those multiples for growth, so a re-rating realistically requires early fundamental improvement to justify it, which is why it rarely stands alone.

Which scenario is most likely?

The blend (Scenario C): EBITDA up low-double-digits toward ~$550M, the multiple up ~1.5–2 turns to ~12x, and net debt modestly lower on free cash flow. Because equity is a levered claim, that combination doubles the stock — and each lever makes the other more achievable, which pure Scenario A or B cannot claim.

What is the single most important catalyst?

Positive U.S. traffic. It is the root driver of margin, EBITDA, the multiple, and sentiment. The next major data point is the Q2 2026 earnings report on August 7, 2026.

What is the biggest risk to the thesis?

Continued traffic declines combined with persistent beef inflation. Because Wendy’s is levered ~4.9x, deteriorating EBITDA pressures both earnings and the multiple simultaneously and can push the equity lower faster than EBITDA falls.

Sources

The Wendy’s Company Q1 2026 earnings release (May 8, 2026): Q1 2026 results press release (PRNewswire) and the Wendy’s Investor Relations mirror.
The Wendy’s Company Form 10-Q for the quarter ended March 29, 2026, on SEC EDGAR (Wendy’s filings). [VERIFY DIRECT DOCUMENT URL BEFORE PUBLISHING]
The Wendy’s Company FY2025 results (February 13, 2026): 8-K Exhibit 99.1 (SEC) and the Q4/FY2025 results press release (PRNewswire).
Leadership changes: Wendy’s 8-K naming Steve Cirulis CFO and Chief Strategy Officer (effective June 23, 2026); CEO transition via Wendy’s Investor Relations.
Valuation multiples (WEN and QSR peers, mid-2026): stockanalysis.com WEN statistics, Finbox WEN EV/EBITDA history, and GuruFocus peer pages for MCD, QSR, and YUM.
Commodity context: USDA ERS Food Price Outlook, the USDA ERS Cattle & Beef Market Outlook, and the BLS Consumer Price Index for chicken/food inflation.
Market data for WEN price, market cap, 52-week range, P/E, and dividend yield (July 15, 2026); historical price references for the March 27–28, 2025 $15 prints and the June 2021 peak (historical daily price series).

Related BuyWendys.com analysis: [INTERNAL LINK NEEDED: Wendy’s Q1 2026 earnings breakdown] · [INTERNAL LINK NEEDED: Wendy’s dividend safety analysis] · [INTERNAL LINK NEEDED: Wendy’s Biggie Deals value-menu economics]

BuyWendys.com and its owner may hold positions in securities discussed. This article is for informational and analytical purposes only and does not constitute individualized investment advice. Figures dated July 15–16, 2026 will change; verify current data before acting. Valuation multiples vary by data provider and as-of date.

What Would It Take to Double Wendy’s Stock (WEN) to ~$15?